LUKoil posts US GAAP financial results

The consolidated revenues of LUKoil under US GAAP gained 42.8 percent to $14.6bn in the first half of 2004 against the corresponding period in 2003, the company stated in an official report. The company's operational expenses decreased 2 percent to $1.33bn. Transportation expenses gained 47.3 percent to $1.38bn. Income before the income tax reached $2.4bn, which was a 9-percent decrease against the first half of 2003. The net income of the company lost 28 percent to $1.646bn in the reported period.